According to Bellator CEO and Chairman Bjorn Rebney, Chandler and Brooks will fight for an interim lightweight title. The bout has been moved from the main event to the co-headliner slot.

Bellator first attempted to make its PPV debut back in November with Bellator 106, but when scheduled headliner Tito Ortiz was forced out of a fight with fellow ex-UFC champion Quinton Jackson, the event shifted to Spike TV.

However, that won’t be the case this time.

As originally planned, the event’s main card will air on PPV (with a price tag ranging from $30 to $45, depending on your local provider) following prelims on Spike TV and Spike.com. The event takes place at Landers Center in Southaven, Miss.

Brooks (13-1 MMA, 5-1 BMMA), who recently won a Bellator tournament, originally was scheduled to fight Nate Jolly (13-5 MMA, 0-0 BMMA) on Bellator 120’s main card. Brooks had earned the right to fight for a title, but with Alvarez and Chandler booked for and tied up with the trilogy fight, he was going to fight Jolly to stay busy.

Rebney said they hope to keep Jolly on the card but need to find a new opponent.

According to Rebney, Alvarez was officially ruled out of the fight just today. Although he suffered a head injury two weeks ago during a training session, Rebney said that Alvarez continued cardio training but reported he was still dizzy. Rebney said Alvarez’s camp told him they’d keep the fight executive updated on his progress, but by Friday, they reported he was still at just “70 percent” capacity. This morning, Alvarez officially pulled out of the fight, Rebney said.

A timetable hasn’t been set for the champion’s return.

While the loss of the Chandler vs. Alvarez trilogy bout certainly hurts the card, Rebney believes the new Chandler vs. Brooks title fight, as well as the heavily billed Jackson (34-11 MMA, 2-0 BMMA) vs. Muhammed Lawal (12-3 MMA, 4-2 BMMA) light-heavyweight tournament final (which was named the new headliner), will provide PPV buyers something worth buying.

“I’m obviously disappointed,” Rebney said. “But we still have a huge card ahead of us with an amazing amount of value.

” … It’s remaining on PPV because it’s a PPV-worthy card, and it’s a must-see event. We used to have an utterly spectacular show, and now we have a spectacular show.”

Rebney also said a heavyweight tournament final between Blagoi Ivanov (11-0 MMA, 6-0 BMMA) and Alexander Volkov (21-4 MMA, 5-1 BMMA) has been promoted from the Spike TV prelims to the PPV main card.

On the same night that Michael Chandler faced Eddie Alvarez in one of the best fights in Bellator history, Dan Henderson and “Shogun” Rua battered one another in the main event of UFC 139. For fight fans trying to follow along, it was a dizzying and (…)